Downward Trend In Stock market, Investors Lost Rs 19 Lakh Crore
Downward trend in the stock market, investors lost Rs 19 lakh crore in 5 days. The downward trend continued in the domestic stock market on Tuesday as well.
Sensex went further down after opening at 57,158 points. Till the time of writing the news, it was trading around the level of 57000 mark. Nifty 50 also opened below the previous close at 17,001.
Earlier, the trend of decline in the stock markets continued for the fifth consecutive trading session on Monday. In the midst of heavy selling, investors’ capital of Rs 19,50,288.05 crore has sunk in five days.
The BSE 30-share Sensex fell 1,545.67 points or 2.62 percent to 57,491.51 points. Similarly, the Nifty of the National Stock Exchange lost 468.05 points or 2.66 percent to end at 17,149.10.
Milind Muchala, Executive Director, Julius Baer said that the Indian markets have been under significant pressure for the past few days.
It is down 7 percent from the recent high, the fall is all-round. The decline is more rapid in new-age companies with recent IPOs.
He said there is concern about inflation in the global markets.
At the same time, there is also concern about the US Federal Reserve raising the policy rate, which has brought down the domestic markets along with the fall in other major markets of the world.
This is the biggest fall in the Sensex and Nifty in a single day since November 26 last year. This is the fifth consecutive trading session when the market has turned down.
Tata Steel’s stock was the biggest loser, losing nearly six percent. Apart from this, Bajaj Finance, Wipro, Tech Mahindra, Titan, Reliance Industries, and HCL Tech were also major losers.
Reliance Industries stock fell the most four percent under selling pressure.
The company’s quarterly performance for October-December, 2021 has been the best ever.
Vinod Nair, Head of Research, Geojit Financial Services, said selling in global markets, weak Q3 financial results, and pre-budget panic led to heavy selling in the domestic market.
The sentiment was adversely affected ahead of the FOMC (Federal Open Market Committee) meeting scheduled for tomorrow.
Investors are awaiting the outcome of the two-day meeting of the FOMC. It is expected that the Federal Reserve will give a clear signal about the policy rate hike.
